Horse racing experts endorse online casino bets

May 18

Some in the state of New York say it simply won't hold a candle to being at the actual track with all the sights and familiar smells, but online casino horse racing wagers may be New York's saving grace.

Yesterday, those who know horse racing well, endorsed online casino betting to boost earnings and generate more interest into the fledgling tracks in the state. These experts that are for wagering online, testified at a hearing in the state's capital.

Many feel that bringing the ability to bet online for horse racing will completely revitalize the sagging horse racing industry, while bringing the industry up-to-date, even luring a younger crowd.

From the year 2001 to the year 2003, the New York Racing Association, which controls New York's race tracks, lost $53.7 million.

Daunted already by settling on fraud charges, the New York Racing Assoc. is in need of a positive financial jolt.

In neighboring New Jersey, online wagering is legal. This has been a major source of competition, causing crowds at the tracks to decrease. To compete with out of state issues, it is felt that a law will be passed to counter control the attendance problems.

Wagering by phone was legalized many years ago. The law did not consider online gambling because it wasn't around at the time. Now, it seems the next natural step to take in legislature.

Last year, efforts failed to get online gambling on horses legalized in New York. With the latest results in revenue losses and expert endorsements, measures will certainly be brought back to light this year.

While online wagering is not permitted to people in New York, people in other states where it is permitted are able to make online bets on races that are held at New York tracks like Belmont or Saratoga.

Most anyone who is in the horse racing industry is in favor of online wagering. It's is so very convenient and people love to do it.

The only people not in favor of this are certain senators to love to use problem gambling as their excuse for being against it.